Gratia Capital LLC cut its holdings in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 37.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,795 shares of the company's stock after selling 33,952 shares during the period. Boyd Gaming makes up approximately 4.1% of Gratia Capital LLC's holdings, making the stock its 11th biggest position. Gratia Capital LLC owned about 0.07% of Boyd Gaming worth $4,192,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cohen & Steers Inc. lifted its position in Boyd Gaming by 0.4% in the 4th quarter. Cohen & Steers Inc. now owns 5,265,454 shares of the company's stock worth $381,929,000 after buying an additional 21,616 shares in the last quarter. Boston Partners grew its stake in Boyd Gaming by 36.9% in the fourth quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock valued at $94,074,000 after purchasing an additional 441,963 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Boyd Gaming by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,973 shares of the company's stock valued at $70,725,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Boyd Gaming by 37.2% during the 4th quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after acquiring an additional 261,443 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.
Boyd Gaming Price Performance
Shares of BYD traded up $0.01 during mid-day trading on Wednesday, reaching $69.24. The company had a trading volume of 926,961 shares, compared to its average volume of 958,931. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The company's 50-day moving average is $67.97 and its 200-day moving average is $71.24. The company has a market capitalization of $5.71 billion, a P/E ratio of 11.13, a P/E/G ratio of 4.46 and a beta of 1.31.
Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.10. The business had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. Boyd Gaming's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 EPS. On average, equities analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current year.
Boyd Gaming Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were given a dividend of $0.18 per share. The ex-dividend date was Monday, March 17th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. Boyd Gaming's dividend payout ratio is 11.75%.
Insider Buying and Selling
In related news, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the sale, the director now directly owns 1,472,970 shares in the company, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the sale, the chairman now directly owns 1,346,628 shares of the company's stock, valued at $104,606,063.04. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,125 shares of company stock worth $5,158,490 in the last three months. Insiders own 27.94% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded Boyd Gaming from a "hold" rating to a "buy" rating and upped their price target for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. JMP Securities reiterated a "market perform" rating on shares of Boyd Gaming in a research note on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on Boyd Gaming from $74.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Finally, Stifel Nicolaus cut their price objective on Boyd Gaming from $82.00 to $71.00 and set a "hold" rating for the company in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.07.
Check Out Our Latest Stock Analysis on BYD
Boyd Gaming Profile
(
Free Report)
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.
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